Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) traded up 10.6% during mid-day trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from C$5.50 to C$6.00. The stock traded as high as C$6.05 and last traded at C$6.05. 4,954,580 shares traded hands during trading, an increase of 239% from the average session volume of 1,460,781 shares. The stock had previously closed at C$5.47.
Several other research firms have also issued reports on CTS. TD Securities raised their price objective on Converge Technology Solutions from C$5.50 to C$6.00 and gave the company a "sell" rating in a research note on Thursday. Cormark upgraded Converge Technology Solutions from a "hold" rating to a "moderate buy" rating in a research report on Monday, January 13th. Stifel Canada raised shares of Converge Technology Solutions to a "strong-buy" rating in a research note on Wednesday, January 15th. Stifel Nicolaus set a C$4.00 target price on shares of Converge Technology Solutions and gave the company a "hold" rating in a research note on Thursday, January 16th. Finally, CIBC lifted their price target on shares of Converge Technology Solutions from C$5.50 to C$6.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a strong buy rating to the company. According to MarketBeat, Converge Technology Solutions currently has a consensus rating of "Hold" and an average price target of C$16.63.
Read Our Latest Report on CTS
Converge Technology Solutions Stock Down 0.2 %
The company has a debt-to-equity ratio of 85.78, a current ratio of 0.96 and a quick ratio of 0.68. The business has a fifty day moving average of C$5.12 and a 200-day moving average of C$4.19. The stock has a market cap of C$1.12 billion, a PE ratio of -7.14, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.
About Converge Technology Solutions
(
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Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.
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